Guideline Value for THONDAIKAN MAKKAN 2ND LANE

Thondaikan Makkan 2nd Lane guideline value

The current guideline value of Thondaikan Makkan 2nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore SRO. The land classification for this area is Residential Class V Type - III.

How the guideline value of Thondaikan Makkan 2nd Lane has changed

The guideline value for Thondaikan Makkan 2nd Lane has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 900 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, reflecting a change of +233%. The value remained at Rs 3,000 per sq.ft until the next revision in 2023, which saw no change. However, from 2023 to 2024, the guideline value increased to Rs 3,300 per sq.ft, marking a rise of +10%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +267%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which means that Thondaikan Makkan 2nd Lane's 2024 figure is below the median.

• Thondaikan Makkan 1st Lane: Rs 3,300 per sq.ft (2024)
• Thondaikan Makkan 3rd Lane: Rs 3,300 per sq.ft (2024)
• Thiru.V.K. 1st Lane: Rs 12,100 per sq.ft (2024)
• Thulukkana Thottam: Rs 3,300 per sq.ft (2024)
• Thulukkana Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Thulukkana Thottam 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thondaikan Makkan 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs based on the property value.

Which Sub Registrar Office covers Thondaikan Makkan 2nd Lane?

The Sub Registrar Office that covers Thondaikan Makkan 2nd Lane is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The stamp duty is calculated based on the higher of the guideline value or the sale price of the property.

When registering a property, it is important to be aware of the guideline value as it can significantly affect the overall costs involved. Buyers and sellers should ensure they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Thondaikan Makkan 2nd Lane?

The current guideline value of Thondaikan Makkan 2nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +267% over the years.

What is the land classification for Thondaikan Makkan 2nd Lane?

The land classification for Thondaikan Makkan 2nd Lane is Residential Class V Type - III.

What is the stamp duty for property in Thondaikan Makkan 2nd Lane?

The stamp duty for property in Thondaikan Makkan 2nd Lane is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Thondaikan Makkan 2nd Lane?

The Sub Registrar Office for Thondaikan Makkan 2nd Lane is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.